Some Condé Nast Publishers Told To Slash Budgets By 25 Percent


More details from the recommendations by McKinsey consultants to Condé Nast bigwigs are starting to trickle down and it’s somewhere between “sounds about as ugly as expected” and “could have been worse.” The New York Observer reports that budgets cuts and frequency reductions are on the list, but closures are not. The New Yorker went on its own diet and is exempt this time around. Everything else is fair game. NYO says Details (thought to be doomed), Traveler and Glamour have been given a ’25-ish” goal, possibly Gourmet and Teen Vogue. Up to them to figure out how to make it work. Meanwhile, Gourmet and other mags with too few ad pages compared to editorial could wind up dropping issues. We’ll keep you posted.

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